Northland Securities Lowers AXT (NASDAQ:AXTI) Price Target to $5.00

AXT (NASDAQ:AXTI) had its price target trimmed by Northland Securities from $6.00 to $5.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Several other equities research analysts have also issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of AXT in a research note on Monday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 target price on shares of AXT in a research note on Friday. Finally, StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.30.

AXT Stock Down 4.7 %

AXTI opened at $2.01 on Friday. The company has a fifty day simple moving average of $2.44 and a 200 day simple moving average of $3.01. The stock has a market cap of $89.40 million, a P/E ratio of -8.04 and a beta of 2.22. AXT has a 12 month low of $1.93 and a 12 month high of $5.64.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $23.65 million for the quarter, compared to the consensus estimate of $25.98 million. AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. During the same period in the prior year, the company earned ($0.14) EPS. On average, equities research analysts expect that AXT will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AXTI. Assenagon Asset Management S.A. increased its holdings in AXT by 26.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock valued at $154,000 after buying an additional 13,376 shares during the period. Creative Planning bought a new position in AXT in the third quarter valued at approximately $127,000. Cubist Systematic Strategies LLC bought a new position in AXT in the second quarter valued at approximately $468,000. Squarepoint Ops LLC lifted its stake in AXT by 206.8% during the second quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company’s stock worth $561,000 after purchasing an additional 111,934 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in AXT by 135.1% during the second quarter. XTX Topco Ltd now owns 173,726 shares of the semiconductor company’s stock worth $587,000 after purchasing an additional 99,840 shares during the last quarter. Institutional investors own 49.52% of the company’s stock.

About AXT

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.